Department of Finance Canada announced a Canada Growth Fund carbon contract for difference connected to clean energy in Markham.
The 2023 Fall Economic Statement announced that the Canada Growth Fund will be the principal federal entity to issue carbon contracts for difference (CCFDs), including allocating, on a priority basis, up to $7 billion of its current $15 billion in capital to issue all forms of contracts for difference and offtake agreements.
The Canada Growth Fund is a $15 billion arm's length public investment vehicle launched by the federal government to attract private capital and invest in Canadian projects and businesses, which is led by Canada's world-leading public sector pension professionals.
Markham District Energy's network delivers reliable, cost-efficient heating and cooling to over 15 million square feet across 240 buildings.
Deputy Prime Minister welcomes the Canada Growth Fund's carbon contract for difference to generate more clean energy in Markham - Canada.ca.
For project sponsors, public financing and investment tax credits can affect whether major industrial, clean-energy, or resource projects are economic enough to proceed.